Question: Please use excel functions on all of them. Beginning three months from now, you want to be able to withdraw $2,200 each quarter from your

 Please use excel functions on all of them. Beginning three monthsfrom now, you want to be able to withdraw $2,200 each quarter

Please use excel functions on all of them.

Beginning three months from now, you want to be able to withdraw $2,200 each quarter from your bank account to cover college expenses over the next four years. If the account pays 43 percent interest per quarter, how much do you need to have in your bank account today to meet your expense needs over the next four years? Complete the following analysis. Do not hard code values in your calculations. Your answer should be positive. You're prepared to make monthly payments of $190, beginning at the end of this month, into an account that pays 7 percent interest compounded monthly. How many payments will you have made when your account balance reaches $20,000? Complete the following analysis. Do not hard code values in your calculations

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!